IRC §702, §704, §199A, §1402, §469

K-1 Analyzer

Translate your K-1 boxes into actual tax owed. Catch the SE-tax trap and grab the QBI deduction.

K-1 type

Partner type (Box H)

Box 1, Ordinary business income

Box 2, Net rental real estate income

Box 4, Guaranteed payments

Box 5, Interest income

Box 6, Dividends (qualified)

Box 9, Net long-term capital gain

Box 17 V (or Box 20 Z), §199A QBI

Your marginal ordinary rate

Estimated tax impact

Ordinary income tax

SE tax (Schedule SE)

Cap gains / qual div tax (15%)

§199A QBI deduction

Total estimated federal tax from K-1

Have our office file your K-1 return

SE tax applies to general partners on Box 1+Box 4 (IRC §1402(a)); limited partners exempt on Box 1 but Box 4 still hits. S-Corp Box 1 is NEVER SE-taxable (Rev. Rul. 59-221). Rental Box 2 is passive unless real-estate-pro per §469(c)(7). §199A QBI = 20% of qualified income, phase-out $191,950 single / $383,900 MFJ (2024). Estimate only. 689-331-5723 · info@zerofusstaxes.com